Principles of Microeconomics

ECON 2302 016

Instructor: Maryann Jacobs

Summer 2012


6:00 pm 9:40 pm

May 29 2012 July 6 2012

San Marcos Center


Instructor Information


Maryann Jacobs MA


Phone 512-662-4836


Office Hours Thursdays before class 5 pm- 6pm

Course Description


Principles of Microeconomics deals with the interactions between individuals, households, businesses and firms The concepts of supply and demand will be studied; students will learn what these concepts mean, how they operate, and how prices are determined. Market structure, market failure and income distribution will also be considered.


Required Text


Microeconomics, McConnell, Brue, Flynn 19th edition


Instructional Methodology


25% Problem Sets

25% Exam 1

25% Exam 2

25% Exam 3

Exam 4 (optional)


Optional Exam 4 can be used to replace a previous exam score.


Course Rationale

This course is meant to give students insight into the dynamics of a market based economy and how through its mechanism scarce resources are allocated. The theoretical and actual role of the government in this market system will also be addressed. The knowledge gained in the course will make students better informed citizens and allow them to follow the debates over various economic events and policies reported in the news media. This course is also a foundation course that will prepare students to be successful in upper division finance, marketing, business administration, economics, government, and social work courses.

Common Course Objectives/Student Outcomes as established by the economics department.

Students who complete this course will be able to understand:

         the basic concepts of scarcity and opportunity cost;

         the forces of demand and supply and how they interact to determine an equilibrium price;

         how and why equilibrium prices might change and their impact on resource allocation;

         the theory of consumer behavior;

         the theory of the firm;

         the theoretical market structures of perfect competition and monopoly.

Course Evaluation

25% Problem Sets Problem sets (6) will be completed in class either individually or in small groups.

25% Exam 1 Covering Chapters 1 - 5

25% Exam 2 Covering Chapters 6, 7, 8, 10 and 11

25% Exam 3 Covering Chapters 13, 14, 16 and 18

Optional Exam 4 Comprehensive

Covering Chapters 1-8, 10, 11, 13, 14, 16 and 18

Exam 4 is optional and can be used to replace a previous exam score.

Final Grades


A 90% - 100%

B 80% - 89%

C 70% - 79%

D 60% - 69%

F Below 60%


Course Policies



Any student who misses three consecutive lecture dates or five total lecture dates will be withdrawn from the course.



Students are not required to attend class however materials discussed in class will appear on quizzes and exams. Also, see withdrawal policy.



Incompletes will be determined on a student to student basis.


Scholastic Dishonesty:

Acts prohibited by the college for which discipline may be administered include scholastic dishonesty, including but not limited to cheating on an exam or quiz, plagiarizing and unauthorized collaboration with another in preparing outside work. Academic work submitted by students shall be the result of their thought, research or self-expression. Academic work is defined as, but not limited to tests, quizzes, whether taken electrically or on paper, projects, either individual or group, classroom presentations, and homework.


Students with disabilities:

Each ACC campus offers support services for students with documented physical or psychological disabilities. Students with disabilities must request reason able accommodations through the Office for Students with Disabilities on the campus where they expect to take the majority of their classes. Students are encouraged to do this three weeks before the start of the semester.